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Nov 28, 2012
11/12
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and will it get the economy going, no. so regardless of pledge or no pledge, i don't have a horse in this race, i'm part of the common sense party here, we have to fix the problem and raising taxes doesn't fix that problem. >> warren buffett came out this week and said the exact opposite. no disrespect to you but he's worth $40 billion and is considered to be the most successful investor in the history of mankind. he says throughout his life, throughout his career, there have been many periods with much higher tax rates, it's never made a dicky bird's difference to people's willingness to invest and that the combination of reduced spending and a few higher taxes for the wealthier people in america is the perfect answer. i just don't get a coherent argument why you can't do a bit of both. >> here's the issue, is that we have never had a period with more than 1% of the gdp in terms of tax hikes since 1969. that was the last time that happened and that put us into a recession and then we had several decades of increasing unem
and will it get the economy going, no. so regardless of pledge or no pledge, i don't have a horse in this race, i'm part of the common sense party here, we have to fix the problem and raising taxes doesn't fix that problem. >> warren buffett came out this week and said the exact opposite. no disrespect to you but he's worth $40 billion and is considered to be the most successful investor in the history of mankind. he says throughout his life, throughout his career, there have been many...
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Nov 27, 2012
11/12
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if the economy grew at 4% instead of 2% a year for one decade. the federal government would net $5 trillion. that would pay down all of the debt that obama's accumulated in the first four years. if we had grown at reagan rates of growth instead of obama rates of growth, 11 million americans would be at work today who are out of work. that's how you do it with the most regulations. >> what if we carried along the bush rate of growth of the eight years before bk? >> well, there were three periods of growth or low growth during the bush years. he enlded president bush handing president obama the greatest financial hospital past of most people's living memory. the idea that show the republican economic policies have been this wonder yus success story going back the last three decades is poppycock. >> taxes are not the only policy. when he cut marginal tax rates on gains and dividends from 2002, there was four years of strong economic growth from '03 to '07. what you had was fannie mae and freddie mac making loans they shouldn't have. the federal gove
if the economy grew at 4% instead of 2% a year for one decade. the federal government would net $5 trillion. that would pay down all of the debt that obama's accumulated in the first four years. if we had grown at reagan rates of growth instead of obama rates of growth, 11 million americans would be at work today who are out of work. that's how you do it with the most regulations. >> what if we carried along the bush rate of growth of the eight years before bk? >> well, there were...
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Nov 21, 2012
11/12
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FBC
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david: what does this mean for our economy? >> we still depend a lot on chinese imports, companies like caterpillar. >> what it means is that we are counting on china as an export market for our companies, like caterpillar, and i don't think we will be able to do that because chinese consumers won't have the ability to go out and buy. also because conservatives will try to shut out foreign companies in the chinese market. they have been trying to do that since the middle of 2006. they have also been going after the private entrepreneurs who are very productive. what they are doing is getting rid of the best elements of the chinese economy, and they are trying to weber state owned enterprises, which are really the worst. david: what techniques they used to keep our companies out? >> the first thing they did in 2006, he saw this with microsoft and goldman sachs, they prevented takeovers. and they have been trying to make sure that foreign companies have to surrender technology, and all sorts of these types of little techniques. a
david: what does this mean for our economy? >> we still depend a lot on chinese imports, companies like caterpillar. >> what it means is that we are counting on china as an export market for our companies, like caterpillar, and i don't think we will be able to do that because chinese consumers won't have the ability to go out and buy. also because conservatives will try to shut out foreign companies in the chinese market. they have been trying to do that since the middle of 2006....
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Nov 29, 2012
11/12
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to me, it seems like it constricts the economy to raise taxes. >> i want an honest answer here. have you bought a ticket? >> you know, i have never done that. i have done so many stupid things with money. but i've never done that one. >> well, you are missing out on a lot of fun. killjoy. >> it is good to talk to you. and you make a lot of sense. >> coming up. and the fiscal cliff again. turning into one of mit romney's top money men. to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am i on the naughty list again? ho ho ho! try this... bayer? this isn't just a headache. trust me, this is new bayer migraine. [ male announcer ] it's the power of aspirin plus more in a triple action formula to relieve your tough migraines. new bayer migraine formula. t
to me, it seems like it constricts the economy to raise taxes. >> i want an honest answer here. have you bought a ticket? >> you know, i have never done that. i have done so many stupid things with money. but i've never done that one. >> well, you are missing out on a lot of fun. killjoy. >> it is good to talk to you. and you make a lot of sense. >> coming up. and the fiscal cliff again. turning into one of mit romney's top money men. to come home for the holidays....
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Nov 25, 2012
11/12
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CSPAN2
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and, in turn, the global economy. if they do not solve the issue of this runaway spending, get some way to stop borrowing in excess, he tells the president of the united states if we default on this, on our obligations and our ious, we will trigger a depression worse than the 1930s. anybody here remember the 19 1930s depression? you probably don't. i don't. i was not born, but i've read about it. it was a calamity for the world. tim geithner said to the president what, if we default on this, if we do not solve this problem, we will have an economic catastrophe that will make the 2008 financial crisis a footnote in the history books. anyone remember the 2008 financial crisis? that's coming not from some columnist or journalist, that is coming from well-informed secretary of the treasury. you think about this, there is a value in running scared. if you think about after 9/11, the terrorist attacks, one thing the country did collectively is they set up tsa, the screening at airports. there are all kinds of work, very sig
and, in turn, the global economy. if they do not solve the issue of this runaway spending, get some way to stop borrowing in excess, he tells the president of the united states if we default on this, on our obligations and our ious, we will trigger a depression worse than the 1930s. anybody here remember the 19 1930s depression? you probably don't. i don't. i was not born, but i've read about it. it was a calamity for the world. tim geithner said to the president what, if we default on this, if...
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Nov 22, 2012
11/12
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CNBC
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most companies need a healthy economy in order to thrive. we call that cyclical growth. but a true secular growth story can deliver fantastic numbers, even in a lousy economy. numbers so consistently good that they can keep powering the stock higher, quarter after quarter after quarter, year after year after year, regardless of the economic environment. how do you spot a genuine secular growth name? i like to look for big picture themes. we have a company that is playing a much broader trend. take the healthy eating in the country and the embrace of the natural and organic foods. this has made whole foods into a powerhouse stock. of course, it's also destroyed the regular supermarkets. and the same for hain celestial, which makes many of the products found in whole foods. it's not your average consumer packaged foods company, huh-uh. even secular growth trends in the end have a limited shelf life. and what you see as these themes age that there are fewer and fewer plays that can consistently make you money. last longer, but never just last forever. years ago, back when t
most companies need a healthy economy in order to thrive. we call that cyclical growth. but a true secular growth story can deliver fantastic numbers, even in a lousy economy. numbers so consistently good that they can keep powering the stock higher, quarter after quarter after quarter, year after year after year, regardless of the economic environment. how do you spot a genuine secular growth name? i like to look for big picture themes. we have a company that is playing a much broader trend....
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Nov 26, 2012
11/12
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how long as the economy going to be in weak condition? but also, what is the fed's response -- how is the fed going to respond to economic conditions? those two things are conflicted with the date. we recognize that. we have tried to address that a bit in our language that i mentioned in my remarks, going back to september when we said that air date with respect to the rate beginning to rise is mid-2015, but we also make clear we anticipate raising rates only after the economic recovery has begun to strengthen. clearly, an important reason why we are looking to hold rates low for almost three years is we want to be particularly sure not to take away accommodation before the hour economy has established an upward momentum, so to speak. different ways to communicate that information -- one would be to provide specific numbers on what economic conditions would make us consider the prospect of removing accommodation. several people on the committee have made suggestions. this is something we are looking at very carefully. it does have the adv
how long as the economy going to be in weak condition? but also, what is the fed's response -- how is the fed going to respond to economic conditions? those two things are conflicted with the date. we recognize that. we have tried to address that a bit in our language that i mentioned in my remarks, going back to september when we said that air date with respect to the rate beginning to rise is mid-2015, but we also make clear we anticipate raising rates only after the economic recovery has...
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Nov 29, 2012
11/12
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and the government control the reinvestment interest the economy. really, there is not much evidence that that has worked. it didn't work under obama or bush, even an argument it didn't work under fdr, which is where it came from. that probably world war ii bailed us out of the economic slump, probably called the great depression, rather than that. i am a sophisticated guy, i don't have a lot of sophisticated looks on things. i just know that i have 350 employees and if you raise a bunch of taxes on me, i really don't have as much money to hire people with. and sometimes people act like i take that money off and stick it in the bank. and i'm just trying to get richer and richer or something, and don't hire people. like i'm a greedy jerk. it helps me to help more people, i can't do that if i'm sending more money to the government. to me. it slows the economy to raise taxes. >> final question, dave, despite your opposition ideology to powerball, have sneakily bought a ticket? >>, you know i have done a lot of stupid things, but never done that. >> you
and the government control the reinvestment interest the economy. really, there is not much evidence that that has worked. it didn't work under obama or bush, even an argument it didn't work under fdr, which is where it came from. that probably world war ii bailed us out of the economic slump, probably called the great depression, rather than that. i am a sophisticated guy, i don't have a lot of sophisticated looks on things. i just know that i have 350 employees and if you raise a bunch of...
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Nov 22, 2012
11/12
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-fifth of our economy. by 2050, it could consume almost two-fifths, crowding out vital spending on other things, not to mention the military and social security. how on earth did we get here and what can we do about it? >> a big underpinning of the system is all of us kidding ourselves. someone else is magically paying for this. well, there is no one paying for it, except all of us. >> david goldhill, the ceo of the game show network, is an unlikely agitator in the health care debate. he got involved after his father went to the hospital with pneumonia and died from an infection while he was there. >> i saw a hospital with less impressive information technology than my dry cleaner has, than my auto mechanic has. a couple times, my father was taken for procedures meant for other patients. there's trash on the floor. almost everywhere, it overflows in patients' room. you're endlessly dealing with personnel that doesn't know anything about your case. this is the intensive care unit we're talking about. >> the
-fifth of our economy. by 2050, it could consume almost two-fifths, crowding out vital spending on other things, not to mention the military and social security. how on earth did we get here and what can we do about it? >> a big underpinning of the system is all of us kidding ourselves. someone else is magically paying for this. well, there is no one paying for it, except all of us. >> david goldhill, the ceo of the game show network, is an unlikely agitator in the health care...
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Nov 29, 2012
11/12
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that is how you get the economy to grow. we'll have less economic growth. >> if all the republicans hold firm to that position you just spelled out and significant detail. there is not going to be a deal between now and december 31st and all americans they are all going to see their tax rates going up starting january 31st. how are you going to feel about that? >> the president came forward and said when you have slow growth, less than 2% now, why would raising taxes now be a good idea? it is still a bad idea and i think while i think there is room for a prom promise, i don't think one person gets to decide where the compromise is. he ran on this notion of raising taxes on the wealthiest americans. he is probably going to hold firm on that. we'll see what happens over the next four weeks. as long as we are spending money on robots, don't raise any taxes. thank you very much. >> less us know what you think. follow us on twitter. up next, another twist in the administration's attempt to explain what happened the night four ame
that is how you get the economy to grow. we'll have less economic growth. >> if all the republicans hold firm to that position you just spelled out and significant detail. there is not going to be a deal between now and december 31st and all americans they are all going to see their tax rates going up starting january 31st. how are you going to feel about that? >> the president came forward and said when you have slow growth, less than 2% now, why would raising taxes now be a good...
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Nov 28, 2012
11/12
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CNBC
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we don't need to have a regulates economy. we need to give the private sector enough breathing room and make sure that we don't brush this initiative. i'm optimistic for the first time in a long time. >> what did you say? free market unregulated economy? >> that is my fantasy. i can't believe it. that we are in agreement on protecting the environment. if the people don't want it, they won't do it. anyway, tyson, thank you. dan mitchell, thank you. now let's talk about california with crashing production and a 13% top state income tax rate. no kidding. no surprise. companies are fleeing the state. but where will they end up? we are about to show you. those little things still get you. for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequent
we don't need to have a regulates economy. we need to give the private sector enough breathing room and make sure that we don't brush this initiative. i'm optimistic for the first time in a long time. >> what did you say? free market unregulated economy? >> that is my fantasy. i can't believe it. that we are in agreement on protecting the environment. if the people don't want it, they won't do it. anyway, tyson, thank you. dan mitchell, thank you. now let's talk about california...
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Nov 29, 2012
11/12
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to me, it seems like it constricts the economy to raise taxes. >> i want an honest answer here. have you bought a ticket? >> you know, i have never done that. i have done so many stupid things with money. but i've never done that one. >> well, you are missing out on a lot of fun. killjoy. >> it is good to talk to you. and you make a lot of sense. >> coming up. and the fiscal cliff again. turning into one of mit romney's top money men. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> i'll call you at 1:00 tonight and i'll tell you john, i have the best idea i have ever had. you want to come along and
to me, it seems like it constricts the economy to raise taxes. >> i want an honest answer here. have you bought a ticket? >> you know, i have never done that. i have done so many stupid things with money. but i've never done that one. >> well, you are missing out on a lot of fun. killjoy. >> it is good to talk to you. and you make a lot of sense. >> coming up. and the fiscal cliff again. turning into one of mit romney's top money men. sfx- "sounds of african...
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Nov 22, 2012
11/12
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CNNW
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and their economy is suffering for it. europe faces a similar demographic crisis, but it is trying a more open approach to immigration. how's that going? it's easy to forget that the european union itself is one of the most ambitious migration experiments in history. half a billion people are allowed to roam freely within the eu's borders. many predicted that swarms of people from poorer nations like poland and romania would move to rich countries like germany and france. that never happened. only 3% of working age eu citizens live in a different eu country. but the eu has not dealt well with immigrants from outside its borders. there's been a nasty political backlash. with anti-immigrant parties thriving in greece, the netherlands and france. rather than rejecting these extremists, europe's mainstream politicians have pandered to them. former french president nicolas sarkozy, british prime minister david cameron, and chancellor angela merkel have all declared that multiculturalism in their countries is a failure. >> they
and their economy is suffering for it. europe faces a similar demographic crisis, but it is trying a more open approach to immigration. how's that going? it's easy to forget that the european union itself is one of the most ambitious migration experiments in history. half a billion people are allowed to roam freely within the eu's borders. many predicted that swarms of people from poorer nations like poland and romania would move to rich countries like germany and france. that never happened....
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Nov 25, 2012
11/12
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CNNW
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everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. hurry in this saturday and sunday for great deals. like the lucid by lg, free. or the galaxy nexus by samsung, free. this weekend, get the best deals on the best devices on the best network. exclusively at verizon. [ gordon ] for some this line is a convenience. how you doing today? i'm good thanks. how are you? i'm good. [ gordon ] but for others, it's all they can afford. every day nearly nine million older americans don't have enough to eat. anything else? no, not today. join me, aarp, and aarp foundation in the drive to end hunger by visiting drivetoendhunger.org. get selsun blue for itchy dry scalp. strong itch-fighters target scalp itch while 5 moisturizers leave hair healthy. selsun blue. got a clue? get the blue. >>> good morning, washington, d.c. take a good look at the shot of the capitol building th
everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. hurry in this saturday and sunday for great deals. like the lucid by lg, free. or the galaxy nexus by samsung, free. this weekend, get the best deals on the best devices on the best network. exclusively at verizon. [ gordon ] for some this...
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Nov 27, 2012
11/12
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CNBC
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. >> so with all the good news on the economy out today, still no rally for stocks. is it really still all about the fiscal cliff for investors right now? let's talk about that in our clo"closing bell" exchange. steve liesman will have breaking news momentarily. steve, do you have that? >> yes, i do. what we have is a report from the new york fed on consumer finance. what the news shows is that overall, consumer credit outside of real estate is up just a bit. most of that, by the way, is student loan debt, being up about $42 billion inside that $2.7 trillion number. overall, mortgage debt is down and overall debt is down. the basic gist of the details, bill, is that consumer credit continues to decline overall. delinquencies are down and bankruptcies are down. balance sheet repair continues. a little bit more willingness of the consumer to take on some debt and a lot of it -- >> that's very interesting, steve. let me ask you something, david. >> i want to make one more point, which is that when you talk about how much the dow is down today, it should be down more bec
. >> so with all the good news on the economy out today, still no rally for stocks. is it really still all about the fiscal cliff for investors right now? let's talk about that in our clo"closing bell" exchange. steve liesman will have breaking news momentarily. steve, do you have that? >> yes, i do. what we have is a report from the new york fed on consumer finance. what the news shows is that overall, consumer credit outside of real estate is up just a bit. most of that,...
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Nov 24, 2012
11/12
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CNNW
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it slows the economy and ripples through all parts of the united states. we don't think it's going to happen fully. if it were, it would be pretty devastating to the u.s. economy. >> that is a lot of money for these families. but is everyone affected by this? >> yes 121 million taxpayers, 90% of america is affected. the lowest tax bracket goes from 10% to 15%. that's a pretty big rise. >> businesses certainly watching the cliff closely. how would it affect american business if we did go over it? >> we think we would flirt with recession. probably 1% off the gdp would come from it. it would cause unemployment to go higher which would hurt the nation. so goes business so goes america as the saying goes. it would hurt families in ways that are untold if american corporations laid off more people. >> do you see any benefit at all? >> getting our fiscal house in order. we can't spend money like this forever. we will have $16 trillion in debt. 99 trillion in unfunded liabilities with medicare and social security. at some point, now or later, right? >> absolutely
it slows the economy and ripples through all parts of the united states. we don't think it's going to happen fully. if it were, it would be pretty devastating to the u.s. economy. >> that is a lot of money for these families. but is everyone affected by this? >> yes 121 million taxpayers, 90% of america is affected. the lowest tax bracket goes from 10% to 15%. that's a pretty big rise. >> businesses certainly watching the cliff closely. how would it affect american business if...
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Nov 29, 2012
11/12
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CNBC
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. >> in terms of the economy, are you worried about 2013? a lot of talk about recession, particularly if we were to go off the fiscal cliff. what's your take on economic landscape in the next year? >> i think there are mixed signs out there. there is great apprehension in small business and in business at large with the prospects of tax increases or dramatic spending cuts that might trigger triggered. i think there's great anxiety. when there's anxiety, people generally don't spend money. the concern is well founded. >> and my thanks to john wattson. >>> political posturing on the fiscal cliff from leading republicans and democrats alike. >> i remain hopeful that productive conversations can be had in the days ahead. but the white house has to get serious. >> we have made our proposal. let them come forward with something. >> find out what senate majority leader harry reid's nevada constituents are saying about his performance. >>> also, is it time for the u.s. to join the ranks and put $1 billis to rest in favor of a $1 coin? believe it or
. >> in terms of the economy, are you worried about 2013? a lot of talk about recession, particularly if we were to go off the fiscal cliff. what's your take on economic landscape in the next year? >> i think there are mixed signs out there. there is great apprehension in small business and in business at large with the prospects of tax increases or dramatic spending cuts that might trigger triggered. i think there's great anxiety. when there's anxiety, people generally don't spend...
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Nov 28, 2012
11/12
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CNBC
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the economy's okay. it may be more of a 2% plus economy in the fourth quarter than is being given credit on the street. it's not gang busters. the question has been for a long time -- by the way, there's some headlines from the beige book. you can see it really did affect the northeast, new york, and new jersey especially. so we'll see some of that in the data in the months ahead. we'll be seeing some rebuilding going on. you know, i would not make a call here on the economy, scott, to say go ahead and invest in the economy. after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang busters. >> we saw harry reid speak yesterday. the market moves when we see different comments out of washington. we saw it again today on this perception that was actually positive commentary. our bar has gotten pretty low. we see stocks move around a lot. what about interest rates? are they responding as much? >> well, perfect
the economy's okay. it may be more of a 2% plus economy in the fourth quarter than is being given credit on the street. it's not gang busters. the question has been for a long time -- by the way, there's some headlines from the beige book. you can see it really did affect the northeast, new york, and new jersey especially. so we'll see some of that in the data in the months ahead. we'll be seeing some rebuilding going on. you know, i would not make a call here on the economy, scott, to say go...
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Nov 27, 2012
11/12
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the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. ♪ alriwoah! did you get that? and...flip! yep, look at this. it takes like 20 pictures at a time. i never miss anything. isn't that awesome? uh that's really cool. you should upload these. i know, right? that is really amazing. the pictures are so clear. kevin's a handsome devil that phone does everything! search dog tricks. okay, see if we can teach him something cool. look at how lazy kevin is. kevin, get it together dude cmon, kevin take 20 pictures with burst shot on the galaxy s3. >>> a big week on capitol hill. ambassador susan rice is about to face her toughest critics on the benghazi attack. just ahead, which lawmakers she'll be meeting with. y used cr f t study... so i guess my wife was right. male anner ] centrum. ways your mostomplet a horrifying scenes in syria. things remain ugly at the house. opposition leaders say it was made after government planes dropped cluster bombs on a playground on sunday. ten children
the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. ♪ alriwoah! did you get that? and...flip! yep, look at this. it takes like 20 pictures at a time. i never miss anything. isn't that awesome? uh that's really cool. you should upload these. i know, right? that is really amazing. the pictures are so clear. kevin's a handsome devil that phone does everything! search dog tricks. okay, see if we can teach him something cool....
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Nov 24, 2012
11/12
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KNTV
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. >> and the heart of the economy is for people i understand it. but do you really need that stuff so much? it seems to me that the retailers need need the sales. but we don't need more stuff. >> i remember very few presents that i was given. i don't really remember them, sure i loved them. i love the card. i get more of a kick reading what someone wrote than the other part. but here's a much more -- >> a sign of getting old, by the way. welcome to my world. >> so, here is a pressing question. what do you wear to bed? >> which has nothing to do with anything. >> nothing. what do you wear to bed? do you wear nothing, like some people? >> i wear my wedding ring. excuse me, that is something. >> do you wear a t-shirt and underwear, like a lot of people. >> what do you wear? >> that's what i wear. do you wear a full-on pajama outfit with pants and the top? do you wear -- >> like bobby, hello kitty pjs? >> jockey did a survey, said just under half of us preferred to wear nothing to bed. according to esquire.com, most women want their husbands to come to
. >> and the heart of the economy is for people i understand it. but do you really need that stuff so much? it seems to me that the retailers need need the sales. but we don't need more stuff. >> i remember very few presents that i was given. i don't really remember them, sure i loved them. i love the card. i get more of a kick reading what someone wrote than the other part. but here's a much more -- >> a sign of getting old, by the way. welcome to my world. >> so, here...
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Nov 27, 2012
11/12
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delaying significant fiscal restraint will send the wrong signal and may serve as taping point for our economy. so you're fear is that interest rates could surge. to be father, we've had this disastrous situation for years and interest rates have kept falling in spite of all worries that there would be a disaster. >> that's right. that's one of the things that distinguishes the fiscal cliff, which we're coming up against right now. from what i described yesterday says the fiscal avalanche. we can see when the fiscal cliff is about to hit. the avalanche occurs when people stop buying u.s. treasury instruments and we have to start raising the interest rate. eventually, we get to the point where we can't afford anything and that's what i'm concerned about. >> so, let me talk about the solution here because we talked back in may about this. we're finally here at the deadline, right. you talked at the time about wanting a simpler tax system and were open to some people paying more and you said some in the republican tea party would be okay with that. here's you on this program back in may. >> i'd m
delaying significant fiscal restraint will send the wrong signal and may serve as taping point for our economy. so you're fear is that interest rates could surge. to be father, we've had this disastrous situation for years and interest rates have kept falling in spite of all worries that there would be a disaster. >> that's right. that's one of the things that distinguishes the fiscal cliff, which we're coming up against right now. from what i described yesterday says the fiscal...
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at the same time protecting the economy? if you're able to gain more revenue by closing special loopholes, and limiting them. and keeping the rate down, so you have better ground control. isn't that a better outcome. >> talk of tax deductions and closing loopholes. a big note on raising tax rates. a lot of talk, but not much real movement, at least for now. as for grover norquist. he told soledad o'brien today, although some republicans are discussing impure thoughts on television, they won't really act on them. >> lindsay graham says i would raise taxes if, and then he lists this incredible list of reforms and entitlements that the democrats would never give him. as i suggested to him, i said, senator you're offering to trade a tax increase for a pink unicorn that doesn't exist. >> whether he does or doesn't bend on taxes, pundits here in washington seem terribly impressed that senator graham and others are talking about going against grover norquist. outside the beltway, most people don't know grover norquist from grover o
at the same time protecting the economy? if you're able to gain more revenue by closing special loopholes, and limiting them. and keeping the rate down, so you have better ground control. isn't that a better outcome. >> talk of tax deductions and closing loopholes. a big note on raising tax rates. a lot of talk, but not much real movement, at least for now. as for grover norquist. he told soledad o'brien today, although some republicans are discussing impure thoughts on television, they...
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>> as far as economy goes, what could provide the greatest certainty for the economy right now would be for the house to take up the bill that the senate passed. extend those middle class tax cuts. >> mr. krueger, thank you for joining us. appreciate it very much. >> thank you for having me. >> alan krueger from the white house. in the latest score they're calling them physician ka cal cliff jumpers. senator patty murray of washington, congressman peter e defazio and peter welch saying it might make more sense to let the fiscal cliff come. >> sandra levin says this is no time to jump off the cliff. he joins us now from capitol hill. pleasure to have you here. >> thanks for joining us. >> why are your colleagues wrong about this? >> they're not saying jump off the cliff. i think everybody wants to avoid it. they're saying, let's not have a bad deal. no, we should avoid the cliff. everybody should listen to what alan krueger said. we need to take the steps. we need to extend middle class tax cuts that would be the major component of avoiding the impact of going over the cliff. we shoul
>> as far as economy goes, what could provide the greatest certainty for the economy right now would be for the house to take up the bill that the senate passed. extend those middle class tax cuts. >> mr. krueger, thank you for joining us. appreciate it very much. >> thank you for having me. >> alan krueger from the white house. in the latest score they're calling them physician ka cal cliff jumpers. senator patty murray of washington, congressman peter e defazio and...
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>> that will have a negative impact on the california economy and on the u.s. economy. so ron is right. there are parts of the u.s. economy are certainly improving, but there are other parts that have not yet felt a vice that's squeezing on them. >> all right. we got to go. the bell is going to ring shortly, i feel like. we got to go. thank you, everybody. appreciate it. we are heading toward the close and, really, the market is where it was before all the rhetoric came out on the cliff. the dow up 32 points right how it. >> we've heard some democrats made maye be willing to dive off that fiscal cliff. our next guest certainly is not following suit. find out what cuts he's willing to make. >>> another potential cost saver could be ditching the paper dollar in favor of a dollar coin. congress is considering it. could our debt literally kill the dollar bill? we'll talk about that. >>> and later on, i'll be talking exclusively to two of the nation's top ceo on how the fiscal cliff will impact their businesses. that's later on in "the closing bell." stay with us. back in a
>> that will have a negative impact on the california economy and on the u.s. economy. so ron is right. there are parts of the u.s. economy are certainly improving, but there are other parts that have not yet felt a vice that's squeezing on them. >> all right. we got to go. the bell is going to ring shortly, i feel like. we got to go. thank you, everybody. appreciate it. we are heading toward the close and, really, the market is where it was before all the rhetoric came out on the...
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billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ we've got to think long term. we've got to think long term. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> you've seen them on the red carpet, fashions by oscar dde de la renta, christian lacroix. now you can stay in rooms fashioned by those designers. we talked about couture vacations. >> three famous designers have gotten their hands on hotels around the world. let's begin with sara game in italy. >> in florence. the thing is, people love their designers and what better way to really embrace that designer by staying in a hotel they have put together with all their famous touches. so they are actually based in florence s
billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ we've got to think long term. we've got to think long term. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get...
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economy. >> why aren't people paying attention? >> 'cause they don't pay attention until they have to. >> whitney says it's time to start. california has a credit rating approaching junk status. it spends more money on public employee pensions than it does on the state university system. arizona is so desperate, it sold off the state capitol, supreme court building, and legislative chambers to a group of investors and now leases the buildings from their new owner. then there's new jersey. it had the highest taxes in the country, a $10 billion deficit, and a depressed economy when first-year governor chris christie took office. but after looking at the books, he decided to walk away from a long-planned and much-needed project with new york and the federal government to build a rail tunnel into manhattan. it would have helped the economy and given employment to 6,000 construction workers. lots of jobs. >> yeah. i canceled it. i mean, listen, the bottom line is, i don't have the money. and you know what? i can't pay people for those j
economy. >> why aren't people paying attention? >> 'cause they don't pay attention until they have to. >> whitney says it's time to start. california has a credit rating approaching junk status. it spends more money on public employee pensions than it does on the state university system. arizona is so desperate, it sold off the state capitol, supreme court building, and legislative chambers to a group of investors and now leases the buildings from their new owner. then there's...
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but there are so many imtangi e intangibles in this economy. it's got more erratic natures than my golf swing does. with that we are trinding to find those companies that will have lasting demand for their product and are really centering those in a lot of the ag sectors, those companies that will benefit from the growth of the world population and the diminution of arable land is taking place year after year. >> i can interject on that point? then why do you think deere, the world's largest farm equipment maker -- missed today? does that not spell bad news for the agricultural sector for you? >> we've had a lot of increase in farm income. big guys have already had their move, caterpillars, the deeres. we're looking at what farmers are going to buy in the retail sector that will have an impact on the rural sector of this economy. but also looking at people like lindsay manufacturing that are in irrigation equipment, nitrogen, fertilizers, those things that are maybe a little bit below the radar that some of the big guys have already participate
but there are so many imtangi e intangibles in this economy. it's got more erratic natures than my golf swing does. with that we are trinding to find those companies that will have lasting demand for their product and are really centering those in a lot of the ag sectors, those companies that will benefit from the growth of the world population and the diminution of arable land is taking place year after year. >> i can interject on that point? then why do you think deere, the world's...
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economy and how do we get us back to that and, two, how do you solve a problem? >> second big development. a growing number of liberal democrats say they're willing to risk going off the cliff to make sure raising taxes on the wealthy is part of the deal. politico is calling them cliff jumpers. l good morning to both of you. >> good morning. >> let me play a couple of clips to start out about the pledge. >> i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> a pledge you sign 20 years ago, 18 years ago, is for that congress. if i were in congress in 1841 i would have supported declaration of war against japan. i won't attack japan today. the world changed and the economic situation is different. >> i am not oblg gate on the pledge. i was just elected. the only thing i am honoring is the oath that i take when i serve when i am sworn in in january. >> chambliss already made a similar statement last week. the question is is this a real softening of positions? does it give them room to make deal. >
economy and how do we get us back to that and, two, how do you solve a problem? >> second big development. a growing number of liberal democrats say they're willing to risk going off the cliff to make sure raising taxes on the wealthy is part of the deal. politico is calling them cliff jumpers. l good morning to both of you. >> good morning. >> let me play a couple of clips to start out about the pledge. >> i will violate the pledge, long story short, for the good of the...
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that kind of agreement would be good for our businesses, good for our economy. it would be good for our children's future. i believe both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> americans are divided a as to what the solution should be to reach some sort of agreement on the fiscal cliff. look at this abc news/washington post survey that says 60% of americans support raising taxes on the wealthy. 37% oppose it. what about reducing deductions? 44% support it. 49% oppose it. americans, much like lawmakers, want a solution to the problem but clearly divided on how to get there. >> the consensus is there to solve it. the question is how. president obama is meeting with mitt romney today. >> big news. >> do you have any idea what they plan to discuss? >> they are having lunch at the white house this afternoon. the president talked about this after his re-election. he said he wanted to sit down with mitt romney, talk about ways to move the country forward. but the president pointed o
that kind of agreement would be good for our businesses, good for our economy. it would be good for our children's future. i believe both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> americans are divided a as to what the solution should be to reach some sort of agreement on the fiscal cliff. look at this abc news/washington post survey that says 60% of americans support raising taxes on the wealthy. 37%...
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economy. >> and all that trouble in washington started last year with the debt ceiling. remember that fight? the u.s. getting very close to hitting the debt ceiling again. what's the debt ceiling? the u.s. spends between $100 to $120 billion more than it takes in every month, so it has to boor remoney to pay its bills. it will take an act of congress to legally borrow more and rack up more debt. the debt ceiling is set at $16 trillion, 394 billion. last week it stood at $16,268,000,000,000. it could hit a high by february of next year. and now home prices, the recovery in much of the country, new home sales numbers today, we learned yesterday that home prices were up nationwide by 3.6% in the third quarter. that's the biggest rise nationwide in more than two years. but look, all real estate is local. we want to show you the cities with the strongest gains in the past year. home prices in phoenix gained more than 20%. minneapolis home prices rose 9%. there are only two big cities with homes losing value. new york and chicago. they slipped a little bit year over year. what
economy. >> and all that trouble in washington started last year with the debt ceiling. remember that fight? the u.s. getting very close to hitting the debt ceiling again. what's the debt ceiling? the u.s. spends between $100 to $120 billion more than it takes in every month, so it has to boor remoney to pay its bills. it will take an act of congress to legally borrow more and rack up more debt. the debt ceiling is set at $16 trillion, 394 billion. last week it stood at...
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economy expanded more than at any other time in history. but something happened because corporations are still doing really, really, really well. but the people that work for them, not so much. corporate profits measured as a percentage have hit record highs. but compensation has hit record lows. look at this chart compared to profits and compensation over the last decade. profit profits is a percentage has surged to record levels. compensation, which workers get, has declined. and these are partially the same trend. corporations threaten to go overseas, they cut costs by give less and less to workers and keep more revenue as profit. in fact, it looked like a dragon. the dragon of inequality. so how do you slay the dragon of inequality and low worker compensation? the twinkie era is not coming back. and and here's what is coming. the affordable care act. explaining what it has to do requires moving from twinkies to pizza. and i recognize there's some irony in talking about junk food, but we're going to do it any way. papa john's has been co
economy expanded more than at any other time in history. but something happened because corporations are still doing really, really, really well. but the people that work for them, not so much. corporate profits measured as a percentage have hit record highs. but compensation has hit record lows. look at this chart compared to profits and compensation over the last decade. profit profits is a percentage has surged to record levels. compensation, which workers get, has declined. and these are...
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economy is getting cheaper. this big reduction is making it a little more exciting. >> it can be health care versus defense stocks. you know, one way or the other depending on the fiscal cliff. you ready to buy either of those? >> i think at this point, if you go over the fiscal cliff, those sectors will be very exciting. one area that i'm really looking at is cyclical versus defensive. i like the cyclicals. >> all right, gentlemen. thank you very much. it's the 65th anniversary for the toys for tots campaign by the m
economy is getting cheaper. this big reduction is making it a little more exciting. >> it can be health care versus defense stocks. you know, one way or the other depending on the fiscal cliff. you ready to buy either of those? >> i think at this point, if you go over the fiscal cliff, those sectors will be very exciting. one area that i'm really looking at is cyclical versus defensive. i like the cyclicals. >> all right, gentlemen. thank you very much. it's the 65th...
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workers' wages have not been raised in real dollars for the last 30 years in this economy. the only jobs being created are low-wage, minimum-wage jobs without benefits or guaranteed hours. >> i think this is so strange. this is so strange. ma'am, we have billionaires on cnbc all the time. they tell us they get a social security check. they use medicare. and you can't even tell me that those people shouldn't have access to those benefits. we can't even cut off millionaires. but you're going to raise taxes. >> here's what we said when we created social security. that we wanted a minimum in this country and guaranteed social insurance program that has been turned into a notion that somehow it's some entitlement as opposed to a guarantee of the basic common good in this country. so, no, i am not willing to connect the question of medicare, medicaid, and social security to a conversation that this nation has been delaying for too long, which is how are we all in this together? how does everybody pay their fair share? and how do we restore economic recovery by getting people back
workers' wages have not been raised in real dollars for the last 30 years in this economy. the only jobs being created are low-wage, minimum-wage jobs without benefits or guaranteed hours. >> i think this is so strange. this is so strange. ma'am, we have billionaires on cnbc all the time. they tell us they get a social security check. they use medicare. and you can't even tell me that those people shouldn't have access to those benefits. we can't even cut off millionaires. but you're...
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economy will plunge back into recession. this sounds plausible to many people because it's roughly speaking what happened to greece but we're not greece. he's saying while this is a real dynamic for some countries, it is not because of the way we fund ourselves, is that right, ben? >> that's right. i would say morning munnize not actually by given name. >> i didn't know that. >> he's right, we're not greece, we're a much larger economy. we can grow our way out of debts and deficits. we've got a ginormous economy. we had a huge black friday weekend. probably $600 billion for the total shopping over the holidays. the question is, as we get close and getting into december, if it looks like talks are breaking down and we have the same old lines on no tax increases for the wealthy versus no spending cuts at all on the left on social security or medicare, then you get people getting nervous. the markets get service, the markets sell off, we have a problem. if we go into january and there's the basic broad outlines of a deal that w
economy will plunge back into recession. this sounds plausible to many people because it's roughly speaking what happened to greece but we're not greece. he's saying while this is a real dynamic for some countries, it is not because of the way we fund ourselves, is that right, ben? >> that's right. i would say morning munnize not actually by given name. >> i didn't know that. >> he's right, we're not greece, we're a much larger economy. we can grow our way out of debts and...
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leader in egypt faced, jobs, broadened political participation, social justice, and developing the economy. and so he is trying to do this by this political move he's made that is now being contested. >> ambassador edward, thank you so much for your time. appreciate it. >> my pleasure, fred. >> all right. i guess you could call it divine intervention. an oklahoma teen is sentenced to church instead of prison for a fatal dui crash. our legal guys praise the judge for this decision in they'll be weighing in. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ >>> a maryland law goes before the supreme court in february, what happens there could affect more than half the country. let's bring in our legal guys avery freeman, civil rights attorney and law professor in clev
leader in egypt faced, jobs, broadened political participation, social justice, and developing the economy. and so he is trying to do this by this political move he's made that is now being contested. >> ambassador edward, thank you so much for your time. appreciate it. >> my pleasure, fred. >> all right. i guess you could call it divine intervention. an oklahoma teen is sentenced to church instead of prison for a fatal dui crash. our legal guys praise the judge for this...
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billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush is simply revolutionary. oral-b power brushes oscillate, rotate and even pulsate to gently loosen and break up that sticky plaque with more brush movements than manual brushes and even up to 50% more than leading sonic technology brushes for a superior clean. oral-b power brushes. go to oralb.com for the latest offers. >>> some of the secrets surrounding osama bin laden's burial at sea are being revealed, and sensitive navy e-mails just became public, brian todd has been looking at them. >> of course, we have seen no pictures of him after his death, but we have new details now o
billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush...
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growing the economy or punishing success? >> sir, thanks for your time today, i appreciate it. >> have a great day. >> you too. >>> this leads to our big question of the day, the afl-cio calling republicans hostage takers. do you agree? are both sides standing in the way of compromise? >>> and we're going to get to the other side of the issue when i speak with bernie sanders of vermont. we are keeping our eyes on the breaking news coming to us out of cairo. i want to show you live pictures of protesters back in tahrir square today for another day of demonstrations over the egyptian president's effort to assert new powers. the protesters reminiscent of the uprising that took down hosni mubarak two years ago, and we've heard a third protester has died as a result of these protests. n. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunde
growing the economy or punishing success? >> sir, thanks for your time today, i appreciate it. >> have a great day. >> you too. >>> this leads to our big question of the day, the afl-cio calling republicans hostage takers. do you agree? are both sides standing in the way of compromise? >>> and we're going to get to the other side of the issue when i speak with bernie sanders of vermont. we are keeping our eyes on the breaking news coming to us out of cairo. i...
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been supportive of hamas in the past, fiery speeches in the past yet at the same time you look at the economy of egypt, and as a key power player in the region he will really emerge as the key peacekeeper. >> it will be a test for him. it will clearly be a test for him how he manages the relationship, the peace agreement with egypt's peace treaty with israel but at the same time how they handle the situation in gaza city where he does have a representative there. another point about this, this was in tel aviv, an attack on a bus. clearly targeting civilians. when you talk, the criticism in the last few days has been about the civilian misery in gaza city because of these destructive air strikes from the israeli military into gaza city. and our ben wedeman points out in these conflicts, it is, it is, it stans the test of time that it is civilians who bear the brunt of these disagreements between countries, between territories, between peoples, and this has been quite, quite difficult for civilians, no question. clearly in gaza city bracing for retaliation. >> reza sayah live for us this mornin
been supportive of hamas in the past, fiery speeches in the past yet at the same time you look at the economy of egypt, and as a key power player in the region he will really emerge as the key peacekeeper. >> it will be a test for him. it will clearly be a test for him how he manages the relationship, the peace agreement with egypt's peace treaty with israel but at the same time how they handle the situation in gaza city where he does have a representative there. another point about this,...
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the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. no, no, no, stop! humans -- one day, we're coming up with the theory of relativity, the next... stop, stop, stop! my car! not so much. but that's okay. you're covered with great ideas like optional better car replacement from liberty mutual insurance. total your car, and we give you the money to buy one a model year newer. learn about it at libertymutual.com. liberty mutual insurance. responsibility -- what's your policy? how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ >>> a panthers/eagles match-up would have looked good a few months back, but that was before michael vick's jury. cam newton had the best game of
the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. no, no, no, stop! humans -- one day, we're coming up with the theory of relativity, the next... stop, stop, stop! my car! not so much. but that's okay. you're covered with great ideas like optional better car replacement from liberty mutual insurance. total your car, and we give you the money to buy one a model year newer. learn about it at libertymutual.com. liberty mutual...
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it doesn't seem to show an economy that is all that worried about what's like ahead for us. >> not on the consumer side. before we have seen the consumer doing well, oblivious to the cliff but measures of business sentiment declining because of the cliff. today, consumer measures continue to look pretty decent and business measures came in not too bad, pretty decent. look. durable goods up changed, we expected them to be negative and business investment up 1.7%. consumer confidence up, not too bad a number. chain store sales for the week ending saturday, including black friday. the best saturday or week ending saturday after thanksgiving that i could find back to 1990. case-shiller home prices continue their march upward. look at consumer confidence and the cliff. i want to show you the two-year chart heerz that dip you see in the middle of your screen there, that is the last debacle, the debt ceiling debacle. can't see it here yet. so you don't get excite about the numbers, give you a longer view whether it should be if these were normal times, see there off to your left, 85s, 90s, 1
it doesn't seem to show an economy that is all that worried about what's like ahead for us. >> not on the consumer side. before we have seen the consumer doing well, oblivious to the cliff but measures of business sentiment declining because of the cliff. today, consumer measures continue to look pretty decent and business measures came in not too bad, pretty decent. look. durable goods up changed, we expected them to be negative and business investment up 1.7%. consumer confidence up,...
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>> remember the first one is the economy, don't mistake the economy -- the economy is more like a cat than a washing machine. the second rule is small is beautiful because it is less fragile. decentralize that small. third rule is skin in a game to make sure that nobody's antifragile at the expense of others. and a fourth rule -- i mean i have like six or seven rules. let me pick one at random -- a good rule is that -- >> by antifragile. >> no. very important rule is to make sure that bailouts help individuals, not companies. in fact we have the exact opposite. we're going to have social unrest if it continues. >> that is a great place to leave it. it is a very interesting and thought provoking book. nice to have you back with us. >> thanks for inviting me. >> pleasure to have you. "antifragile." and i think it is going to be a best seller, ty. >> thank you very much, sue. >>> congressional leaders meeting with america's ceos at this hour to discuss solving our fiscal mess. they're going to hold a press conference shortly and we will take it live. >>> before that though, we're going t
>> remember the first one is the economy, don't mistake the economy -- the economy is more like a cat than a washing machine. the second rule is small is beautiful because it is less fragile. decentralize that small. third rule is skin in a game to make sure that nobody's antifragile at the expense of others. and a fourth rule -- i mean i have like six or seven rules. let me pick one at random -- a good rule is that -- >> by antifragile. >> no. very important rule is to make...
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Nov 28, 2012
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manufacturing however weakened or in some cases even contracted so that dual track economy of the economy doing okay but the manufacturing sector not is a theme in this report. slice gains in residential and commercial real estate. tight inventories out there for housing. demand was higher for mortgages and auto loans and credit quality overall appeared to improve. small business loan was weaker to only moderately higher. that sector continues to be troubled. there were moderate gains in hiring with employment up in half of the 12 districts. wage and price pressure was subdude. let me get specific about the effects of hurricane sandy from the beige book. they found freight shipments were disrupted as far away as cleveland with a cloud hanging over jersey shore tourism. atlantic city casinos were mentioned specifically in there. there was concern over rebuilding the shore community and the speed with which they will be built. concern over shortages of construction equipment and rising insurance prices. finally the effects were also -- the philly said that the storm accelerated already exis
manufacturing however weakened or in some cases even contracted so that dual track economy of the economy doing okay but the manufacturing sector not is a theme in this report. slice gains in residential and commercial real estate. tight inventories out there for housing. demand was higher for mortgages and auto loans and credit quality overall appeared to improve. small business loan was weaker to only moderately higher. that sector continues to be troubled. there were moderate gains in hiring...
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Nov 28, 2012
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that kind of agreement would be good for our businesses, good for our economy, it would be good for our children's future. i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. but the place where we already have, in theory at least, complete agreement right now, is on middle-class taxes. as i've said before, we have two choices. if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next year, starting january 1st, every family in america will see their taxes go up. are a typical middle-class family of four would so its income taxes go up by $2200. $2200 out of people's pockets. that means less money for buying groceries, less money for filling prescriptions, less money for buying diapers. it means a tougher choice between paying the rent and paying tuition and middle-class families can't afford that. by the way, businesses can't afford it, either. yesterday i sat down with small business owners who stressed this point, that economists predic
that kind of agreement would be good for our businesses, good for our economy, it would be good for our children's future. i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. but the place where we already have, in theory at least, complete agreement right now, is on middle-class taxes. as i've said before, we have two choices. if congress does nothing, every family in america will see their taxes...
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Nov 22, 2012
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that's going to be good for the economy. we'll wait to see in january whether people sort of, you know, pull back a little bit. but in general, i think it is safe to say even if christmas isn't the most efficient way to do spending, it still gets the job done. >> but the ugly part i think we'll have video on the show tomorrow that will exactly reiterate what you're saying. happy thanksgiving. >>> some americans are going to the movies after the turkey is finished. is what drives us to broadcast the world's biggest events in 3d, or live to your seat high above the atlantic ocean. it's what drives us to create eco-friendly race tracks, batteries that power tomorrow's cars, nearly indestructible laptops, and the sustainable smart towns of the future. at panasonic, we're driven to make what matters most better. just another way we're engineering a better world for you. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're b
that's going to be good for the economy. we'll wait to see in january whether people sort of, you know, pull back a little bit. but in general, i think it is safe to say even if christmas isn't the most efficient way to do spending, it still gets the job done. >> but the ugly part i think we'll have video on the show tomorrow that will exactly reiterate what you're saying. happy thanksgiving. >>> some americans are going to the movies after the turkey is finished. is what drives...